Live News Updates: China, Hong Kong shares fall as Covid constrains investors

The US is gearing up for Thanksgiving celebrations, so expect the traditional travel chaos and stories of traffic jams in the days leading up to Thursday’s national holiday. Then prepare for the economic analysis of Black Friday sales data the following day.

After about a week of international summits, President Joe Biden will be forced to talk turkey to turkey (rather than other world leaders) this Monday as he takes traditional pardon of birds during the holiday season – of course, others may choose to save a turkey because escalating costs.

Across the Atlantic, where the pre-Christmas bird flu nightmare is for festive British poultry farmers is getting worsethe great constitutional event is the decision of the Supreme Court – due on Wednesday — on whether the Scottish Parliament can call a second independence referendum without the approval of the UK’s Westminster government.

The leader of the Scottish National Party, Nicola Sturgeon, who somewhat ironically was responsible for the first referendum failure getting the job as First Minister because it forced her to resign predecessor Alex Salmondthere is raised the stakes by bidding on IndyRef2.

Scottish independence activists attend a rally in Glasgow © Robert Perry/EPA-EFE

The court is expected to reject Sturgeon’s proposal, which some have argued its true purpose because it will fuel nationalist resentment against Westminster ahead of a general election due in the next two years.

British business leaders will be able to have their say on UK policy at the CBI conference starting on Monday in Birmingham. Speakers include a ‘senior cabinet minister’, John Lewis Partnership chairman Sharon White and BT Group chief executive Philip Jansen.

Oh yes, and some more football is being played. Click for The FT’s full coverage of Qatar.

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Economic data

Flash G7 PMI reports are the highlight of a light statistical schedule, thanks in large part to Thanksgiving. The OECD also updated its economic outlook forecasts on Tuesday.

Rate setting intentions will be in the news again with minutes from November’s Federal Open Market Committee showing exactly how sentiment is changing among US central bankers. Interest rate hikes are expected in South Korea, with a 25 basis point increase forecast, and South Africa, where a 75 basis point increase is forecast. Turkey is bucking the trend with an expected jump of 150 basis points.


Just in time for the biggest retail event in the US calendar, we’ve got a stack of earnings from US and UK retailers Best Buy, Abercrombie & Fitch, Halfords, Pets at Home and Mothercare.

Ingka Group, which owns most of Ikea’s stores around the world, reports full-year figures on Thursday that will include the home furnishings retailer’s earnings.

Read the calendar for the entire week ahead here.

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